Here’s everything you need to know about what a mutual fund is, how it works, and why they could be your most valuable tool for long-term investing.
If you earn cryptocurrency by mining it, it's considered taxable income and might be reported onForm 1099-NECat the fair market value of the cryptocurrency on the day you received it. You need to report this even if you don't receive a 1099 form as the IRS considers thi...
Certain types of investments in a self-directed IRA may generate income that is taxable in the year earned (instead of deferred until withdrawn from the IRA). This type of income is referred to as either unrelated business taxable income (UBTI) or unrelated debt-financed income (UDFI). Examp...
There are alsoincome limitationsrestricting who's eligible to contribute. In 2023, single filers require a modified adjusted gross income (MAGI) of $138,000 or less to contribute the full amount to a Roth IRA. That number climbs to $146...
It’s also important to point out that the Roth IRA income limit does not apply to workplace retirement plans, such as401(k)s and 403(b)s. If your employer plan allows for Roth contributions, you can make the full contribution up to the annual limit into a de...
Investing is an exciting endeavor, but it can be daunting too. Investing is a way to earn passive income. Putting your savings to work so you can earn more money sounds great, but most people don't have a spare $1,000 just lying around. Can you still invest in stocks with a more ...
In some cases, the returns you earn on your investments might also exceed the interest rates on your debt. But this won’t always happen. Keep in mind that all investments come with risk, and your gains or losses will depend on your choices and the broader market. How to do both: inve...
Sophia Bera
Do you have an IRA? You may want to get a handle on these things first. Here's how: Pay Down Your Debts We don't normally think of paying debts down as investing. But it can be just as profitable, and sometimes more, in the long run. Here's an example: ...
And the IRS pretty much has the right to impose them on any income you earn with limited exceptions. When you sell investments at a profit, the IRS can impose capital gains taxes. And those, frankly, aren't so fun to deal with. But there's good news: You can take steps to lower ...